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How red is China's red capitalism? Continuity and change in China's financial services sector during the global crisis

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  • Bernadette Andreosso-O'Callaghan
  • J�rn-Carsten Gottwald

Abstract

Chinese capitalism cannot be captured by theoretical frameworks and concepts such as the 'Varieties of Capitalism' approach. Despite its integration into the world economy and the financial crises, the country has kept a stable Leninist basis of formal institutions. The case of financial services shows: (i) a resilience of the sector to the 'Great Financial Crisis' of 2008 and (ii) the use of the crisis as an opportunity. Examining the control of Chinese financial services shows that private interests and the regulatory authorities are intimately linked to the state apparatus and that there is no radical break in sight with China's unique blend of party state-led capitalism.

Suggested Citation

  • Bernadette Andreosso-O'Callaghan & J�rn-Carsten Gottwald, 2013. "How red is China's red capitalism? Continuity and change in China's financial services sector during the global crisis," Asia Pacific Business Review, Taylor & Francis Journals, vol. 19(4), pages 444-460, October.
    • Handle: RePEc:taf:apbizr:v:19:y:2013:i:4:p:444-460
    DOI: 10.1080/13602381.2013.823711
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    1. Nicholas R. Lardy, 2012. "Sustaining China's Economic Growth after the Global Financial Crisis," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6260, January.
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    Cited by:

    1. Lucía Morales & Bernadette Andreosso-O’Callaghan, 2019. "Challenges and Opportunities Brought to the Chinese Economy by Brexit and the New US Administration," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(2), pages 145-171, August.

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